Second Quarter 2024 Earnings Call August 9, 2024 %evergy Important Information Forward Looking Statements Statements made in this document that are not based on historical facts are forward-looking, may involve risks and uncertainties, and are intended to be as of the date when made. Forward-looking statements include, but are not limited to, statements relating to Evergy's strategic plan, including, without limitation, those related to earnings per share, dividend, operating and maintenance expense and cap ...

Earnings and Financial Performance - Q2 2024 GAAP EPS of $0.90, up from $0.78 in Q2 2023[1] - Q2 2024 Adjusted EPS (Non-GAAP) of $0.90, up from $0.81 in Q2 2023[1] - Q2 2024 GAAP earnings of $207.0 million, compared to $179.1 million in Q2 2023[1] - Q2 2024 Adjusted earnings (Non-GAAP) of $207.0 million, compared to $186.1 million in Q2 2023[1] - Year-to-date June 30, 2024 Adjusted earnings (Non-GAAP) of $331.7 million, compared to $322.2 million in 2023[5] - Year-to-date June 30, 2024 Adjusted EPS (Non-GAAP) of $1.44, compared to $1.40 in 2023[5] Guidance and Growth Targets - Reaffirmed 2024 GAAP and Adjusted EPS guidance of $3.73 to $3.93[3] - Long-term Adjusted EPS (Non-GAAP) annual growth target of 4% to 6% through 2026[3] Dividends - Quarterly dividend declared at $0.6425 per share[4] Customer Base - Evergy serves 1.7 million customers in Kansas and Missouri[11] Risks and Challenges - Financial market conditions and performance, including volatility in interest rates and credit spreads, impact the availability and cost of capital[14] - Disruptions in the banking industry affect derivatives, hedges, nuclear decommissioning trust, and pension plan assets and costs[14] - Physical and cybersecurity breaches, criminal activity, and terrorist attacks pose risks to Evergy's facilities and IT infrastructure[14] - Geopolitical conflicts impact the global energy market, including the ability to contract for non-Russian sourced uranium[14] - Workforce risks include attracting and retaining qualified personnel and managing costs of wages, retirement, and health care benefits[14] - Strategic initiatives like mergers, acquisitions, and divestitures may not achieve expected value in a timely manner[14] - Evergy Companies' ability to manage transmission and distribution development plans and joint ventures is a key risk[14] - New factors emerge unpredictably, and Evergy cannot assess their impact on business outcomes[15] Forward-Looking Statements - Evergy undertakes no obligation to update forward-looking statements unless required by law[15] Corporate Communications - Media and investor contacts are provided for corporate communications and investor relations[16]

Financial Performance - Evergy reported a total revenue of $3.2 billion for the fiscal year ended December 31, 2023, representing a 5% increase compared to the previous year[8]. - The company achieved an earnings per share (EPS) of $2.50, which is a 10% increase year-over-year[8]. - Evergy's customer base grew by 2% to approximately 1.6 million customers, indicating a steady demand for energy services[8]. - Evergy, Inc. reported operating revenues of $1,447.5 million for the three months ended June 30, 2024, compared to $1,354.2 million for the same period in 2023, representing a year-over-year increase of 6.9%[26]. - Net income attributable to Evergy, Inc. for the three months ended June 30, 2024, was $207.0 million, up from $179.1 million in the same period of 2023, reflecting a growth of 15.6%[27]. - Basic and diluted earnings per share for the second quarter of 2024 were both $0.90, compared to $0.78 in the second quarter of 2023, indicating a 15.4% increase[27]. - Operating revenues for Q2 2024 reached $727.3 million, up from $639.6 million in Q2 2023, representing a 13.3% increase[38]. - Total operating revenues for the year ended June 30, 2024, were $2,778.5 million, an increase from $2,651.0 million in 2023, representing a growth of approximately 4.8%[81]. Capital Investment and Infrastructure - The company plans to invest $1.5 billion in capital projects over the next three years to enhance infrastructure and support renewable energy initiatives[9]. - Evergy is developing new technologies in energy storage, with a target to deploy 500 MW of battery storage by 2025[9]. - Additions to property, plant, and equipment amounted to $657.2 million in the first half of 2024, compared to $579.9 million in the first half of 2023[40]. - Evergy's property, plant, and equipment, net, was reported at $24,301.4 million as of June 30, 2024, reflecting ongoing investments in infrastructure[66]. Sustainability and Emission Goals - Evergy aims to reduce carbon emissions by 30% by 2030, aligning with its long-term sustainability goals[9]. - The company anticipates a 4% growth in energy demand over the next five years, driven by economic recovery and population growth[9]. Expenses and Liabilities - Evergy's operating and maintenance expenses are projected to increase by 3% in the upcoming fiscal year due to inflationary pressures[9]. - Total operating expenses for the three months ended June 30, 2024, were $1,089.4 million, an increase from $1,017.6 million in the same period of 2023, marking a rise of 7.0%[26]. - Evergy, Inc. incurred interest expenses of $143.6 million for the three months ended June 30, 2024, compared to $133.7 million in the same period of 2023, representing a rise of 7.1%[26]. - Evergy, Inc. reported total long-term liabilities of $18,788.5 million as of June 30, 2024, compared to $17,778.5 million at the end of 2023, an increase of 5.7%[23]. Cash Flow and Equity - Cash flows from operating activities for the year to date June 30, 2024, were $634.8 million, down from $715.2 million in 2023, a decrease of 11.2%[29]. - The company’s total equity increased to $9,731.7 million as of June 30, 2024, from $9,685.0 million at the end of 2023, reflecting a growth of 0.5%[23]. - Total current assets increased to $1,021.8 million as of June 30, 2024, compared to $945.8 million in the previous year[34]. Dividends and Shareholder Returns - The Board of Directors declared a quarterly dividend of $0.6425 per share on Evergy's common stock, payable on September 20, 2024[74]. - Evergy Kansas Central declared a cash dividend of up to $135.0 million to Evergy, payable on or before September 19, 2024[74]. - Evergy Metro declared a cash dividend of up to $110.0 million to Evergy, also payable on or before September 19, 2024[74]. Regulatory and Compliance Issues - The company anticipates compliance costs related to the EPA's tightened Mercury and Air Toxics Standards (MATS) rule will not be material[160]. - The EPA lowered the primary annual PM NAAQS from 12.0 µg/m3 to 9.0 µg/m3, effective May 2024, which could have a material impact on the company's operations and financial results[164]. - The proposed ITFIP for Missouri and Oklahoma includes reduced ozone season NOx budgets starting in 2023, with additional reductions in future years, potentially affecting the company's compliance costs[162]. Related Party Transactions - Related party transactions for the Evergy Companies showed an increase in billings, with Evergy Kansas Central billing Evergy Missouri West $10.4 million for the three months ended June 30, 2024, compared to $9.9 million for the same period in 2023[177]. - As of June 30, 2024, Evergy Kansas Central had a net payable of $171.3 million to Evergy, down from $274.5 million as of December 31, 2023, indicating a reduction of approximately 37.5%[180].

Evergy (EVRG) is scheduled to release second-quarter 2024 results on Aug 9, before market open. The company delivered a negative earnings surprise of 11.5% in the last reported quarter. Let's discuss the factors that are likely to be reflected in the upcoming quarterly results. Factors to Consider In April 2024, Evergy Missouri West purchased a joint ownership interest, representing nearly 145 megawatts in Dogwood Energy Center, an operational natural gas combined cycle facility in Missouri. This is likely ...

Investors interested in stocks from the Utility - Electric Power sector have probably already heard of Evergy Inc (EVRG) and Southern Co. (SO) . But which of these two stocks offers value investors a better bang for their buck right now? We'll need to take a closer look. The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scor ...

Franklin, MA, July 23, 2024 (GLOBE NEWSWIRE) -- Franklin, MA, July 23, 2024 - Interactions, an innovating force in Conversational AI for customer service, today announced its client, Evergy won gold in Chartwell's 21st annual Best Practices Awards for excellence in Digital Experience. Evergy won the Chartwell Gold Award for Excellence in Digital Experience. The evaluation committee recognized Evergy's innovation to allow start and transfer service in the IVA. This novel concept allowed more than 40,000 star ...

An American investor-owned utility (IOU) with publicly traded stock and the largest electrical provider in Kansas, Evergy has a passion for creating exceptional customer experiences and solutions. For its digital-based customer support, it partners with Interactions LLC to efficiently manage millions of annual support calls. Interactions delivers exceptional omnichannel customer-support solutions by combining the best of AI with customized LLMs and real-time human intelligence. It provides digital CX soluti ...

The 'Undercovered' Dozen series aims to highlight undercovered stocks on our platform for you to have another source for idea generation. This time around, we're looking at ideas published from June 28th - July 11th. Take a look at what these undercovered stocks and ideas might hold for you. And please join the conversation below to share what you think: are any of these worth following up on? Ticker Rating Analyst NEM, NGT:CA; TECK, TECK.B:CA Strong Buy; Sell QOE Capital Throughout the last year, there has ...

SanderStock/iStock via Getty Images It seems like every day the technology (XLK) sector dominates the headlines. Given that it makes up approximately 30% of the S&P 500 index's (SP500) weighting, this makes sense. There's no doubt that technology is fueling economic growth. Not surprisingly, it also has generated outsized gains in 2023, year-to-date, and especially in the past month. Before the dip in recent days, XLK outperformed the S&P by almost 11% on a one-month basis per Seeking Alpha. According to Tr ...

The Zacks Consensus Estimate for PCG's 2024 and 2025 earnings reflects a year-over-year growth of 9.8% and 8.6%, respectively. The company reported a positive earnings surprise of 5.71% in the last reported quarter. PNW's long-term earnings growth rate is 8.2%. The Zacks Consensus Estimate for Pinnacle West Capital's 2024 and 2025 EPS implies a year-over-year improvement of 7.9% and 5.3%, respectively. Growth Projections In the past six months, shares of the company rallied 3.9% against the industry's 2.3% ...